The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1887-11-23

the several foreign companies we repre-
sent nor have we thought of making any
changes in our rules or rates, There will
be some material changes made next year
in the construction and capacity OF the
sheds. or rates will necessarily be increased
TO meet the hazard. think the change
will be i'm the sheds, and that the South
eastern tariff association should offer sew
eral valuable prizes for the best and most
improved plan of shed. This, | think,
ii would be willing TO do.
Col John johnson, OF the Phoenix Fire
and Marine Insurance Company-I have
nothing to say. When ! get ready TO be
interviewed III write my own interview.
Rcporter--You can do that now; III
ask the questions.
Col. Johnson-No, will not tell you
have nothing TO say.
Thus was the interviewer squclChcd.
J. T.. Beasley Secretary of the Factors
Insurance Company, also representing the
North American Company, Pennsylvania
Fire of Philadelphia, sun Fire Of London,
and Liberty of New York Il have not
cancelled a policy for any Of my companies,
and am not likely TO do so. There has
been no change in any Of our rules. |
can say what is likely 10 be the future of
cotton insurance in this city, but one
thing certain, we have got 10 have moro
storage. There is too much value con-
centrated in one place. There will have
10 be some rhdical changes ON this score.
Murphy d Murphy-We have Cancelled,
by instructions from our home offices, u
half dozen policies within the past few
days, which will aggregate in the neigh
borhood Of S25, 900, all OF II in foreign COM
panies; we represent no others. The poll
cios taken up were replaced ut the mo-
! mcnt. When we received the order TO
cancel, we made out the same policy in
another company, took II around TO the
factor and gave Il TO him in turn for the
other No; we have heard nothing at all
OF any change in the rules OF the co M
panics on account OF these fires.
There will be some very material
changes here by next season ~ to insur-
ance. We don't mean as 10 increased
rates, but the lines Of the companies will
be reduced aud not as heavy amounts
written. But the principal change will be
in cotton sheds. We have got TO have
more of them, and they have got TO be
constructed on a safer plan. There were
| ten more sheds in the city in 1880, when
We handled 10000 bales OF cotton less
than we have this year. This thing OF
concentrating such large value Of cotton
in one place is entirely too hazardous.
The cotton must be scattered II should
be thoroughly understood that the insur.
ance companies doing business here can
accommodate the demand upon them.
W. l.. Parker, Secretary OF Peoples In.
sumnce Company have cancelled
/ tk.,. 90 f,ttr ..,tf.i,a Ia all a.
| $4,000, but promptly placed the risks in
other companies, of which We represent
several The policies were taken up be.
cause those companies were beyond the
| amount OF their line. There has been mo-
change in rules There will he some
marked changes next year. The local
companies will reduce their lines, taking
smaller policies. The sheds here will
also have 10 bc revised and increased, IN
order 20 have the cotton separated int,
smaller quantities,
Darlington Mason Z con-Wc haV
cancelled no cotton polie cs at all, thougl
We have received insirlfcfohe hJm cn'
company to reduce their line from Slj,O0
to $1,000 hereafter, while several com
panics have instructed us to Increase thcil
line 5000 In order 10 accommodate any
increased demand which may he made
upon us. That Is about the only chang
suggested 90 us. We nrc very willing {,
take all the insurance We can get W,
think that by next season the shed capaci
ty will be materially increased, and lh,
principle Of storing the cotton IN smallc
quantities adopted.
Marks Il Bensdorf-Wc represent Eu
ropcan companies altogether, and have no
Cancelled any Of the policies taken by N
Tor them. We are anxious 10 take all th,
insurance offered MS. The change next {,
be- made IN the city, ~ far ~ the insurance
is concerned, will he Ia build more she'd
and keep the cotton IN smaller lots. Their
will be no increase in rtcs II that is prop
| grlV ,lunp